Suzee, SLR are not offering 45.2 cents cash per share. SLR are giving IGR shareholders one SLR share for every 6.28 IGR shares.
So divide the SLR share price by 6.28 to see what the bid is worth.
SLR is currently $2.66, so the bid is currently worth 42.35 cents an IGR share.
I'm anticipating a rise in both SLR and IGR as the market approves of this merger and sees the benefits.